Join us for a day full of critical insights, invaluable discussions, and in-person networking opportunities at Tearsheet’s Power of Payments Conference on Sep 15th, Current, Chelsea Piers, NYC.
Insurtech and traditional insurers: the changing dynamics of the insurance industry
The insurance business is undergoing digitization, and that, in many ways, is fundamentally changing how the business is done.
Insurtech providers are opening up new opportunities for the insurance industry at large. As digital providers look to embed insurance products directly into shoppers’ purchasing experience, with more personalized and customizable offerings, incumbents are keen on leveraging their size to stay competitive.
Experts argue that the best way forward, keeping customers at the center, is a collaboration between the two. The idea that traditional and digital insurers are in competition with each other may now be outdated.
The latest briefing
Bankchain Briefing: How will ‘The Merge’ impact the crypto industry?
This week, we discuss Ethereum 2.0 and its likely impact on the future of blockchain and crypto.
Almost exactly a year ago, Tearsheet reporter Ismail Umar wrote an article on Ethereum 2.0, which refers to a series of upgrades to the Ethereum network in order to make it more scalable, secure, and sustainable. These upgrades represent a major transition for the Ethereum network, and by extension, the entire blockchain ecosystem.
Once implemented, Eth2 will boost network speeds from the current average of around 30 transactions per second to potentially 100,000 TPS. The upgrades will also improve network security and drastically reduce Ethereum’s carbon footprint.
The transition to Ethereum 2.0 is a massive undertaking that has been in the works since 2014 — the Eth2 launch involves three separate phases.
We explore why the upcoming second phase, ‘The Merge’, is so important and how it could impact the industry going forward.
Read more (exclusive to Outlier members)
Just look at the charts
1. Growth in fintech app downloads returns to pre-Covid levels
2. The embedded banking space is getting increasingly crowded
Federal Reserve issues guidance for banks eyeing crypto activities
The U.S. Federal Reserve issued additional guidance for banks considering activities involving cryptocurrencies, emphasizing that firms must notify the Fed beforehand and make sure whatever they do is legally permitted. (Reuters)
Revolut revamps junior users’ accounts
Revolut has rebranded its service for 6 to 17-year-olds. ‘Revolut <18’ is an account for young people which is connected to their parent/guardian’s Revolut account, intended to give them a financial head start in life. (Finextra)
Remitly to acquire Rewire for around $80 million
US-based remittance processor Remitly has signed an agreement to acquire Israel-based Rewire, a financial services platform for migrant workers. The transaction is expected to close in the second half of 2022. (The Paypers)
Funding Circle co-founder unveils Super Payments with $27 million investment
Funding Circle co-founder Samir Desai has unveiled a new U.K. fintech startup called Super Payments. Super promises to help businesses cut out the “middlemen” payments processors, who often charge up to 5% on top of every transaction. (TechCrunch)
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